Litecoin rallies and rest of crypto on the up ahead of big day for markets

🚀 Litecoin leads gains – LTC jumps 13%, with Optimism (OP), Bitcoin Cash (BCH), and Cardano (ADA) also trading higher.

📊 Fed rate decision looms – Markets await today’s interest rate call, with most expecting the Fed to hold steady despite political pressure.

📈 Bitcoin pushes higher – BTC starts the day strong, helped by optimism around possible progress in US-China trade talks.

🛠️ Ethereum’s Pectra goes live – The people’s upgrade is set to roll out today.

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CRYPTO markets are waking up in the green this morning, with Litecoin (LTC) posting solid gains of 13% overnight.

Optimism (OP), Bitcoin Cash (BCH), and Cardano (ADA) are also showing solid moves, as traders position ahead of a potentially pivotal day for markets.

The Fed will announce its latest interest rate decision later today, and while most analysts expect no change, pressure from President Trump to resume rate cuts is adding a political twist. Bitcoin (BTC) has held up well despite the uncertainty, trading higher early in the day. Some market watchers point to renewed optimism around a possible US-China trade deal as a possible tailwind for risk assets, including cryptocurrency.

Ethereum’s Pectra upgrade is also set to go live today. Billed by the Ethereum Foundation as “the people’s upgrade”, it promises to improve user experience and wallet functionality across the network. “The Merge was for the protocol, Pectra is for the people,” the organisation noted on X. 

With two major catalysts unfolding today, it’s shaping up to be one to watch for both crypto and traditional investors.

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In the markets… 

🌍 Total crypto market cap ⬆️

The global cryptocurrency market capitalization is approximately $2.98 trillion, reflecting a 1.58% increase over the last 24 hours.

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🟠 Bitcoin (BTC) ⬆️

Price: Currently trading at around $96,992, marking a 2.74% increase in the last 24 hours.

Daily high: Approximately $97.511

Daily low: Approximately $93,592

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📈 S&P 500 ⬇️

The S&P 500 index is down about 0.77% since yesterday.

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🙂 Fear & Greed Index

The Crypto Fear & Greed Index currently stands at 53/100, indicating a slight neutral sentiment among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The RSI for Bitcoin is approximately 66, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.

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‍Post Script…

Cautionary Notes

‍‍It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.